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Development hacking is a trendy term at the moment.  In general, conventional marketers perceive Growth Hacking Experimentation as a formidable challenge.

Traditional marketers inadvertently participate in growth hacking experiments in the course of their routine activities.  As an illustration, they perform A/B testing, pre-test variables, and incorporate experimental results in order to improve the products or variables.  To increase conversion rates, this may entail revising the current content of a document we produce, such as a whitepaper, memo, or article.

A number of marketers have successfully implemented Growth Hacking through a thorough understanding of its fundamental principles and mechanisms.  Gaining comprehension of the subsequent foundational pillars that constitute Growth Hacking empowers organizations to achieve remarkable results:

• Assess existing marketing initiatives: This entails the evaluation of an organization's primary lead generation sources, Marketing Channels, traffic patterns, and page viewers.
• To establish clear objectives: In order to advance the progress of your ongoing marketing initiatives, establish objectives and the means to achieve those objectives.
• Develop experimental strategies to validate hypotheses: Develop an assortment of methodologies in order to verify your hypotheses and achieve your objectives.
• Conduct pilot tests: Analyze your hypotheses until you arrive at results that are statistically significant.
• Record and distribute findings: Create and disseminate documentation of the techniques that have improved your current marketing strategies to your team.

Growth Hacking is a strategic approach aimed at augmenting customer base, revenue, or business operations.  As experimental trials, it necessitates a methodical approach to organizing, executing, and documenting concepts.

The process of Growth Hacking Experimentation consists of the following eight crucial steps:

1. Employ a scientific approach.
2. Establish objective.
3. Foster a culture of brainstorming and hypothesis development.
4. Prioritize ideas.
5. Design and execute experiments.
6. Evaluate results.
7. Share findings of experimentation.
8. Learn from others.

Let’s dive deeper into the first four steps of the Growth Hacking Experimentation model for now.

Step 1. Employ a scientific approach.

The preliminary stage of Growth Hacking Experimentation underscores the importance of a systematic process free from any element of uncertainty.  The procedure should consist of distinct and well-defined phases, starting with idea generation through Brainstorming and advancing to hypothesis formulation, idea prioritization, and implementation.

It is not imprudent for the process of Experimentation to occur in isolation.  The methodology should be thoroughly documented, scalable to other experiments, and applicable to a wider range of product lines, departments, and geographic regions.

Step 2. Establish objective.

During this phase, measurable and actionable goals and indicators are established for the Growth Hacking Experimentation so that their progress can be monitored.  Every experiment's results must be actionable and traceable.  The execution of Growth Hacking Experiments ought to be carried out gradually and incrementally.

To illustrate, in the context of a Growth Hacking initiative aiming to augment revenue, procuring supplementary leads of superior quality will aid in the realization of this goal.  As a result, enhancing the conversion rate of the campaign that generates the minimum quantity of leads becomes imperative.  Precisely on a landing page, the campaign-level objective should be a 5% increase in conversions.

Step-3. Foster a culture of brainstorming and hypothesis development.

Nurturing a culture that appreciates and applies innovative concepts necessitates a steady provision of motivation and stimulation throughout collaborative ideation sessions.  This process enables the development of feasible hypotheses.  To guarantee the positive outcome of the Growth Hacking Experimentation, it is imperative to establish a methodical framework for overseeing and documenting ideation sessions.

It is advisable for marketers to utilize a suitable internal documentation application, such as Trello, Google Doc, or Excel, in order to methodically record every idea that the team proposes.  Following this, they should provide guidance to their team on how to transform assumptions generated by ideation into hypotheses that are supported by empirical evidence. Additionally, they should maintain a record of prioritized concepts, evaluation criteria, and Decision-making justifications to aid future experiments.

Step 4. Prioritize ideas.

Following the ideation session, the Growth Hacking Experimentation requires an evaluation and classification of the growth ideas generated.  To facilitate the prioritization of ideas, it is critical to establish precise criteria that will be applied to evaluate each concept.  In order to facilitate an objective comparison of the ideas, a score and rank should be assigned to each one in accordance with the predetermined criteria.

Interested in learning more about the next steps of Growth Hacking Experimentation? You can download an editable PowerPoint presentation on Growth Hacking Experimentation here on the Flevy documents marketplace.

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